Woulfe Mining Corp WFEMF

Attention: Shareholders - Annual General Meeting 11/29/2013

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TechOne - Please print out copies of this letter and take it with you to the AGM - Cheers!

The shareholders would like to know who will be flipping the $10 million dollar bill for the one year delay? What is the current status on the $150 million financing arangement with the Shinhan bank in South Korea? Why is it taking so long to finalize the loan with the bank? Is Woulfe Mining eligible for any of the South Korea economic stimulus funds?
The deal with IMC no longer makes any sense based on the current terms of the agreement. Hopefully the new WOF board of directors can somehow turn the tables on IMC before this fiasco extends into a third year. The IMC Subscription Agreement Deadline is on February 26, 2014 .
IMC should lose their stake in the Sangdong tungsten project and joint venture APT refining plant if they do not fork over some big money to compensate WOF for the one year delay. Woulfe will be free to negotiate with other companies for a new off-take deal if the agreement with IMC expires.

Why does IMC require so many special requirements from Woulfe Mining in order to finalize the strategic agreement? Wolf Minerals recently obtained complete financing and off-take agreements for their tungsten project. Wolf Minerals only completed a feasibilty study on the first 9 years of mine life on their tungsten project. They will further expand the resources after they begin full-scale production. The Wolf Minerals tungsten project in England is not being subjected to a bunch of ridiculous special requirments, so why should Woulfe Mining have to go through this considering the company supposedly has the best tungsten project in the world currently.

Wolf Minerals is a good example to compare Woulfe Mining to because they easily obtained not one but two off-take agreements with two large companies. This shows how serious major companies are about securing their long term supplies of the strategic metal.
Wolf Minerals has executed binding offtake agreements with Wolfram Bergbau und Hütten AG, Austria ("WBH"), and Global Tungsten & Powders Corp., Pennsylvania, USA ("GTP") for the project’s tungsten production.

https://wlf.live.irmau.com/irm/Company/ShowPage.aspx/PDFs/1218-27527000/Wolfsignsdebtfacilitiesandbindingofftakeagreements

Meanwhile Woulfe Mining just continues to get strung along and bled dry by IMC & the Shinhan Bank in South Korea. Those two $5 million dollar loans that Woulfe received should have been included in the deal as up front BONUS money. In exchange for IMC receiving exclusive negotiation rights on the Sangdong tungsten project. Instead those two $5 million loans have to be paid back with interest and FREE tungsten. Not only do the current terms of this agreement enable IMC to gain too much control of the company but it also allows them to receive FREE tungsten. Perhaps this is the reason that IMC wants to milk this fiasco out for a third year, so they can squeeze more FREE tungsten out of Woulfe. If they provide another $10 million loan for the one year work program.

Apparently IMC thinks they can drag this out for a third year and demand a bunch of special requirements from WOF.but this scheme could backfire on them.
The current terms of the agreement only make sense if the tungsten project is fast tracked into production which it was not. The new WOF board of directors need to make it clear to IMC that they can't have it both ways. If they want a special work program done and a more complete feasibility study then they will have to fork over more money.
Unless they have a change of heart and decide to fast track the tungsten project similar to Wolf Minerals in England. Then once in full-scale production they could further expand the tungsten resource estimate on the Sangdong tungsten mine.

Woulfe Mining AGM at 10 a.m. on November, 29th

Location: Atkins Room, The Terminal City Club
837 West Hastings Street, Vancouver

Atkins Room, TCC

https://www.tcclub.com/

TCC - Atkins Room https://www.tcclub.com/SiteDesign/pdf/Floorplans.aspx

Read more at: https://www.stockhouse.com/companies/bullboard/v.wof/woulfe-mining-corp?postid=21917700#oiPYVbxc0RUHu26g.99

[StockExpertPro]

Woulfe Mining AGM at 10 a.m. on November, 29th Location: Atkins Room, The Terminal City Club 837 West Hastings Street, Vancouver Atkins Room, TCC https://www.tcclub.com/ TCC - Atkins Room https://www.tcclub.com/SiteDesign/pdf/Floorplans.aspxRead more at: https://www.stockhouse.com/companies/bullboard/v.wof/woulfe-mining-corp?postid=21925236#qEucI4PPjGZTRQDT.99